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Nature and buisness
Haryana Leather Chemicals is a joint venture with ICAP-SIRA Italy, having technical alliancewith Vismon, Spain. The company specializes in the field of leather and shoe chemical
manufacturing. Its range of products includes syntans, fatliquors, finishing chemicals, shoe
finishes and shoe adhesives.
It has an integrated chemical research and manufacturing facility for a comprehensive range of
specialty chemicals and coatings for leather, textile and footwear; and a wide range of adhesives.
The outsourcing opportunities offered by Haryana to the leading Industrial chemicals specialistsset a new world standard in production economies & quality, cut costs, reduce development time,
speed up deliveries and maximize profits.
In the rapidly changing global markets, ecological and economic constraints are creating newchallenges for large and multinational chemical producers. Haryana enables their outsourcing
partners to meet with such situations by toll manufacturing; using latest quality controltechnologies, higher production efficiencies and yet respects the environmental and safetyresponsibilities.
Haryanas standard of quality and service is recognized worldwide. Intensive research onproduct development and application, an emphasis on environmental responsibility and safety,
backed by the ISO 9001-2000 quality system has enabled users worldwide to achieve a high
value addition to their products.
Haryana can be off-shore partner for highly economical research, development, pilot production,
toll manufacturing of industrial coatings: Acrylics & Polyurethane dispersions, Pigmented
coatings, varnishes and lacquers, Acrylic PVC processing aids and spray dried products.
Companies is struggling with capacity or budgetary constrains, engaged in resins and polymersfor surface coatings, adhesives, sealants will find Haryana as an ideal offshore partner to get their
formulations developed or toll manufactured.
Product range of the company includes:
Leather Chemicals
Syntans
Fatliquors Finishes
Footwear Finishes
Adhesives Finishes Auxiliaries
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Textile Binders
Acrylics Polyurethane Dispersions
Adhesives
Pressure-Sensitive Polyurethanes Synthetic Rubber
Achievements/ recognition:
It has got ISO 9001-2000 certification. The first Indian company to free its leather chemical products of banned chemicals.
Name and add
Corporate Office
1405 B, Signature Towers,
South City I, Gurgaon - 122001,
Haryana, India
Manufacturing
72-77, Industrial Area, Hansi Road,
Jind 126102, India
EOU Devision
52-53, Industrial Area, Hansi Road,
Jind 126102, India
Mission and vision
Vision & Mission :
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Vision:
Our vision is to become the world's most innovative and respected chemical
company, by producing environmentally friendly products and by bringingvalue to our customers through creative solutions that suit their needs. Our
innovative products, creative solutions and tailor-made services make us one of
the most competent worldwide suppliers in the chemical industry.
Organizational Vision: HLCL provides an organization in which people of all
backgrounds can contribute and achieve their full potential in pursuit of personaland organizational excellence.
Mission:
HLCL mission is to achieve sustainable growth by engineering innovative
environmentally friendly chemistry that adds value to our customers products.
We strive to exceed our customers expectations and therefore create the
foundation of a trusted business partnership.
The Company has a three part strategy,1- Deliver new products through the power of innovative chemistry
2- Intensely pursue knowledge for Research and Development of coatings
applications3- Increase productivity by using latest methodology
Our request to our valuable customers Never limit your Imagination, becauseInnovation at HLCL
DIRECTORS' REPORT
Dear Shareholders.
The directors of Haryana Leather Chemicals Ltd. are pleased to present the 26th Annual Report
and Audited Statement of the company's accounts for the year ended on 31st March. 2011.
OPERATIONS
During the year the company has achieved a sales turn over of Rs.3,462 lacs against Rs.3.236
lacs for the previous year and net profit for the year is Rs. 185.53 lacs against Rs 303 83 lacs for
the previous year. The exports are at Rs 1,.420 lacs compared to the previous year's exports of Rs1.260 lacs.
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The company has been able to achieve higher sales in domestic and export market in comparison
to last year. However, it has somehow recorded lower profits due to significant increase in cost
of inputs which could not be passed on fully to customers who have long term relationship withthe company.
DIRECTORS
During the year pursuant to the provisions of the Articles of Association of the company Mr.
Pradeep Behl. H.K. Gupta and Piero Tranchinetti. Directors, retire by rotation at the forthcomingAnnual General Meeting to be held on 12.09.2011 and being eligible they offer themselves for
re-appointment.
CORPORATE GOVERNANCE
A certificate on the compliance of conditions of corporate governance has been obtained fromthe Statutory Auditors of the company and the same has been given as Annexure.
DIRECTORS' RESPONSIBILITY STATEMENT AS PER SECTION 217(2AA) OF THE
COMPANIES ACT. 1956.
The Board of Directors of the company confirms that:
i. during the preparing of the annual accounts, the applicable accounting standards have beenfollowed and no material departure has taken place;
II. the selected accounting policies were applied consistently and the directors made judgmentsand estimates that are reasonable and prudent so as to give a true and fair view of the state of
affairs of the company as at 31st March. 2011 and of the profit of the company for the yearended on that date:
III. proper and sufficient care has been taken for the maintenance of adequate accounting records
in accordance with the provisions of the Companies Act. 1956 for safeguarding the assets of thecompany and for preventing and detecting fraud and other irregularities;
IV. annual accounts have been prepared on an ongoing concern basis.
FIXED DEPOSIT
The company has not accepted / renewed any fixed deposits during the period under review.
QUALITY CONTROL
The company has further reinforced its quality systems for incoming and outgoing material withthe acquisition of more advanced analytical instruments Company's SAP ERP system has been
tested for drilling down on the historical data of materials in order to track and respond to a
complaint from the field. The company continues with its present quality system of ISO 9001-
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2000 and ISO 14001. The company is strictly complying with the quality policy and the quality
objectives outlined in the system.
EXPORT OPERATIONS
Company's export operations continue to be the focus of growth as it would eventually benefitthe domestic sector too due to new releases. There has been significant expansion of customer
base due to a new thrust in countries like Ethiopia. Poland. Uzbekistan and Vietnam. The
company is still struggling to regain its customers in Bangladesh but due to logistical difficultiesthere is no breakthrough as yet. There are very promising enquiries of PVC modifiers from
Russia. Iran and Turkey and the sampling is under progress.
TECHNOLOGY DEVELOPMENT
The first phase of commercial production platform of the indigenously developed PotyurethaneDispersions is under final stages of completion. The protect which is partially funded by TDB
(Technology Development Board) of Govt, of India is being set up in existing plot - instead ofthe new plot - for speedier implementation and better operational control. The pilot scaleproduction is ongoing and is complementing the first phase capacity of 300 MT / Year.
The research project on 'Polymeric Fatliquors' sponsored by DSIR (Department of Scientific &Industrial Research) has already been completed to the satisfaction of sponsoring authority. Due
to sensitivity in the production technology the company has yet not firmed up any plans for its
commercialization until the seed marketing in various domestic and export market issatisfactorily completed.
After the successful completion of the trial production of Acrylic Processing Aids for PVC. the
company is setting up a new 'pressure nozzle' type spray drying system based on latesttechnology using pulse bag filtration. The new drying facility has been designed to ease off the
production constraints and also to address the environmental concerns during production. Theplant which is first of its kind in the country is expected to go into trial run phase by June 2012.
DIVIDEND
Considering the current cash flow situation due to new investments and lower profits as
compared to last year, the directors have recommended a dividend of 6%.
PERSONNEL & INDUSTRIAL RELATION
The 'Performance Appraisal System', introduced few years ago has been further expanded to
ensure more accountability across all staff, managers and executives. The team of 'key
executives' is able to handle day to day operations while senior executives are handling morechallenging tasks on product development, technical services, safety and environmental issues.
Industrial relation remained cordial across all segments of skilled and unskilled workforce.
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ENVIRONMENT & POLLUTION CONTROL MEASURES
The water treatment technology has been periodically reviewed under the guidance of a watertreatment consultant from M/s. Expertise Limited U.K. The improved treatment cycle has
consistently met with all the statutory requirements Improved efficiency in production and more
frequent audits of water consumption have yielded further reduction in waste water volume from20 KL to about 8 KL per day. The company is delivering all solid waste to Gujarat Enviro
Protection & Infrastructure (Haryana) Pvt. Ltd. (GEIPL) common treatment facility tor disposal -
as per the directives of state pollution control board.
ACKNOWLEDGEMENT
The Directors express their gratitude and sincere thanks to their various business partners,
suppliers, domestic & international dealers, financial institutions and technical consultants, who
have contributed towards the company's growth. The directors appreciate the diligence,dedication and commitment of all those employees, who have worked hard to get the company to
where it stands today.
For and on behalf of the Board of Directors
of Haryana Leather Chemicals Limited
N.K. JAINDirector
PANKAJ JAINManaging Director